If I bought a million Steem it would cost 130,000 dollars.
A million Steem has a vote value of 12 dollars (7 at current SBD rate)
That is 70 dollars of votes a day with ~35 going toward curation.
This is a little over 1000 dollars a month which is 890€.
I can rent an apartment like mine for less than that and if I sold my place now, I could buy a million steem and live rent and mortgage free until price recovers.
My wife would kill me. Plus, I don't think I have the balls.
It is an interesting idea though as we all like to think about what kinds of values we might need in order to live off of Steem. Depending on location, it can be significantly more or less, but in order for me to live entirely off curation, I would need Steem price to be around 12 dollars to cover all expenditures.
Of course, with both my wife and I currently working, living completely off of Steem is not necessary, nor would I really want it to be the outcome. I would like to have the option available however as I believe that things are going to get much more economically uncomfortable in the global economy relatively soon-ish.
Remember though, SOON is when Steem is going to moon, and SOON is when the crypto winter for alt coins will end.
Sometimes I feel like I am in the picture above, standing out on the decking and looking into the white with no visibility on anything. But, that is just the feeling. In my head I see things quite clearly and estimate the future to look much brighter than the doomsday predictions on crypto may be.
There are always doomsdayers during every new industrial revolution who say it will never work or, the end is nigh, when the start hasn't even happened yet. Ten years is no time at all for an industry to get off the ground and walk, let alone run. And this particular industry challenges one of the fundamental technologies of our society - money.
Yes, money is a technology, a tool that we can use as an extension of ourselves to perform and ease tasks that we might not be able to do otherwise. How many spears is one shield worth, how many berries or pelts? Place an arbitrary unit of measure that can represent each, and then the marketplace sorts out the rest as the laws of supply and demand kick in. The money tool empowered trade and lowered risks for participants by acting as a proxy for goods.
Tokens like SMTs are just markers, but unlike fiat money, they have special attributes as they carry rules that can be applied as they move. Rather than just trade one for one, a host of interactions can be bundled that give a new set of tools to use. Fancy money.
I don't think we have really developed many ways to use these capabilities yet as we haven't got far past the idea of it acting like money. It is a self imposed limitation as while money can be used to buy reality, tokens can actually represent a reality, digital or not. This is the ownership component and the difference between having 100 dollars in a wallet or 100 dollars worth of Steem - They are not equivalent.
The 100 dollars can buy its value of something, but the 100 Steem can be used in multiple ways to generate alternative values beyond the currency aspects. A non-fungible token has different attributes again and can be used as a unique marker to indicate things like ownership or authenticity - for example for digital trading cards.
These additional capabilities allow for a much wider degree of actions to be performed while removing much of the risk of money through traceability and verification. Most of the ways tokens are going to be used by people have not yet been considered and once more participants with various backgrounds and skills get interested, the evolution of use will increase exponentially.
I wonder if a hundred years ago Henry Ford could envisage where the car industry would be today and then, what about the visions of the random person who at the same time had only heard about cars from the news paper. Most of the world has yet to come close to blockchain and crypto technology while those of us already here, use it daily. But, our daily usage or time in the industry isn't indicative of our imagination for its future development and if anything, we are likely the least creative as we are heavily influenced by what has been done so far.
In five years from now, the blockchain and token industries are going to be doing very different things than they are today, and we can see that the development on Steem applications is already distributing. A new crypto recruit in 2025 is walking into a very different experience than we did, one that is more mature and has a greater level of development and refinement. What they are empowered to do with it might be far from where we are looking toward today and their focus could be wider again.
Our relative starting points heavily influence our direction in life as it is from there we start our thoughts and from there we begin to form our habits. The length of time doing something doesn't indicate one's ability to innovate away from what is currently being done and more often than not, can be a great restriction on our creativity because, we think we already know it all.
From where we stand today on the crypto pier, how far can we really see?
Some will sell their house.
Taraz
[ a Steem original ]